What Is Medicare Gap Coverage?
If you are a senior on Medicare, you probably already know that it does not provide
all the health coverage you need this is where Medicare gap coverage comes in. There are many different plans of gap coverage you can purchase to help supplement the expenses Medicaid does not pay for. To find the best gap coverage plan, consult with a provider who specializes in Medicaid supplemental insurance.What you may not know about Medicare is that prescription benefits are suspended after you reach a certain amount of expenses. This is referred to as the Medicare donut hole. After you reach your deductible for prescription expenses, Medicare pays for a certain percentage of your prescription drug costs that is, until you reach the donut hole portion. This is the time frame between when Medicare stops paying for prescription care until your prescription costs reach catastrophic levels.
Once you reach the catastrophic level, Medicare will pay 95% of prescription drug costs. Many seniors stop taking their medications once they reach this gap in coverage. This makes them more susceptible to illness and even death. Seniors should never be put in the position of having to choose between medicine and other necessities. You do not have to worry about being without life-sustaining prescription medications if you have proper Medicare gap coverage.
Another flaw of Medicare is that is leaves seniors without important coverage for other essential services such as vision and hearing. A large percentage of all seniors who are on Medicare have vision or hearing problems. Again, here is another way where Medicare gap coverage can make the difference for seniors to be able to afford the health care services they really need.
Depending on the type of gap plan you purchase, you will have different benefits. Some plans allow you to keep seeing your own doctor, while other plans make you see a service provider within a certain HMO or PPO plan. You will have to decide what is most important to you when choosing a plan freedom of choosing your own health care provider or keeping your health insurance costs down.
Medicare gap coverage is an important coverage that you wont want to be without. All it takes is one unexpected illness to set you back financially. To make sure you choose the best plan for your own unique medical situation, you should talk with an insurance provider who specializes in Medicare gap coverage plans.
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